Beginning September 1, 2019, the IRS is expanding its retirement plan determination letter program to apply to certain individually designed statutory hybrid and merged plans. Employers sponsoring hybrid plans not previously reviewed by the IRS for required (or other) plan changes, and employers that have or will merge two or more of their plans together in connection with a corporate transaction, should consider taking advantage of this expanded determination letter program.
Diane M. Morgenthaler and Jeffrey M. Holdvogt recently presented the webinar “Student Loan Benefits and Other 401(k) Developments” at the Worldwide Employee Benefits Network Chicagoland program. In the presentation, they discussed a variety of new 401(k) trends and developments, including:
Employer options for student loan benefits and related considerations;
The IRS’s recent expansion of its determination letter program to certain hybrid and merged plans; and
New changes to EPCRS, the IRS’s comprehensive program for correcting tax-qualified plan failures.
For more information on these and other developments, please see our On the Subjects on the SECURE Act and the changes to EPCRS.
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